Internet scammers steal $22 million from Pick n Pay
Email hacking fraudsters reportedly stole $22 Million from Pick n Pay. These thieves are believed to be targeting big businesses according to the Zimbabwe Republic Police. The scammers sent an email to the retail giant’s account office pretending to be Pick n Pay Financial Manager Raymond Matsetsa. The email instructed the accounts office to send money from a bank account held at Steward Bank to four company accounts. Upon arrival the money was emptied instantly from the four accounts.
Zimbabwe Broadcasting Company News states some facts concerning the theft and these are:
- Pick n Pay and Steward Bank Employees are suspected to be part of the scam.
- Steward Bank upon receiving the instruction from Pick n Pay went on to transfer funds to the following accounts $10 million into a company called Simrac Investments, Leechiz $3 million, Madzara Investment $7 million, and Maalocka Pvt Ltd $2 million.
- The scam was discovered on 3 March when Matsetsa said the email was doctored it did not originate from his desk.
- One suspect Tonderai Chagweda was arrested for the crime that was committed on January 2021.Internet scammers steal $22 million from Pick n Pay
Internet scammers steal $22 million from Pick n Pay
ZRP National Spokesperson Assistant Commissioner Paul Nyathi is still investigating the issue and they believe the scammers are targeting big businesses in Zimbabwe. It is highly unlikely that a company as big as Pick n Pay can fall to such scamming. If a Finance Manager communicates on issues concerning such large amounts of money at least one should verify on a call before sending the money.
Not knowing the protocol they follow when it comes to handling finances, it seems the one to action the transfers was part of the scam. The way the money was withdrawn from the accounts is also a sign that the dubious operation had to be an inside job.